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So is American Dream still going on, and will be great, or have we awoken into the nightmare that is this thing will just sit there and become a roach motel?
So now two new entities will take it over, but they are state agencies? How will they pay? Are they backing this with taxpayer dollars?
What exactly does it mean to issue $800mil in bonds tied to sale of an annual revenue stream related to Triple 5's share of payments in lieu of taxes due to E Rutherford? That is a quote at the beginning of the article.
Oh and I am talking about the mall.
Last edited by NJ Brazen_3133; 08-07-2016 at 10:24 PM..
Reason: better title
They should abandon the project and let it rust. It should be left as a symbol of what metro NYC/NJ construction projects are- boondoggles complete with many missed deadlines, corruption, extreme cost overruns, and ultimately not delivering on what was originally planned.
whatever happened to the concept of some dreamworks themed park? that sounded like a decent idea. whatever happens, the government should just leave it alone.
It should be completely razed and wetlands should be restored in its place...
They can turn it into the worlds largest aquarium. NYC metro currently does not have a flagship aquarium. It has the Bronx Zoo, and Safari in Jackson NJ, but no aquarium.
Other than knowing this has been a long-term boondoggle, I admit ignorance to the specifics.
As for a solution, here's an idea: Okay gaming industry. You want a casino in North Jersey. Here's the property. Now make it work!
1) Deregulate the casino industry
2) Sell the land to a private casino developer
3) Step the eff out of the way, and let the private sector do what it does best - build the crap out of the site and make a ton of gorgeous green money while creating thousands of jobs.
No bonds, no public financing, no taxpayer rape, just get the heck out of the way, and leave it to Capitalism.
And I don't want to hear the obstructionist envirofascists wax on about this smelly swamp located 10 miles from Manhattan. We don't need malodorous bogs of rotting vegetation in this area. There is plenty of useless land for that. The area around NY City should be developed, developed, developed. When we can co longer go out, we should go up.
Sell the damned land to someone who can, using all their own money, make a success out of this. And that means the government needs to get completely out of the way, both financially and legally. Don't regulate it, don't monitor it, don't control it. Get out of the way.
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